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According to Chilean news on Sep. 6, Molymet announced last Thursday that it would increase 200 million us dollars of investment in stock market, it accounts for 10% of all assets of the company. The company provides finances for six countries in the world.

 

“We chose this way was for supplying money to enlarge our company after rising moly” The CEO said, “moly price was just USD8/lb before one year, but now it is USD16/lb. We are focusing on Chinese market. After buying 50% of stock equity from Luoyan Hi-tech Molybdenum and Tungsten Material Company in 2009, we promised that we would spend 50 million us dollars making the output of the company increased by 4 times within a decade. And we are planning to open a new joint venture in HuheHaote city in China.” He added.

 

The moly output of Molymet accounts for 35% of that of the world. Molymet invested about 190 million us dollars in Chile, Belgium and China, and might develop projects in Brazil, the US and South Korea.

 

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Email: xuzhongcheng@ferro-alloys.com